Eurex Clearing
1. Introduction
This circular provides information about the onboarding of J.P. Morgan Chase Bank N.A. London Branch as a Multi-Currency Payment Bank for Eurex Clearing AG and as a Multi-Currency Correspondent Bank for Clearing Members of Eurex Clearing AG as of 6 December 2023.
With J.P. Morgan Chase Bank N.A. London Branch, Eurex Clearing broadens its network of Settlement Banks facilitating clearing-related cash payments in multiple currencies for Clearing Members.
2. Required action
Please note that J.P. Morgan Chase Bank N.A. London Branch is already an accepted Correspondent Bank for British pound (GBP) and US-dollar (USD).
This introduction has no impact on cash accounts required for the Clearing Members’ securities settlement activity performed by means of Delivery versus Payment instructions for which Clearing Conditions of Eurex Clearing AG and corresponding requirements will remain unchanged.
If a Clearing Member is interested in using J.P. Morgan Chase N.A. London Branch as Settlement Bank, please contact your respective Key Account Manager within Eurex Clearing or send an e-mail to client.services@eurex.com and/or the following contact at the respective bank:
Bank | Contact | |
J.P. Morgan SE | Michael Reinwald | |
J.P. Morgan SE | Ana Baztan |
3. Details of the initiative
Eurex Clearing plans to connect J.P. Morgan Chase N.A. London Branch as Multi-Currency Payment Bank for Eurex Clearing AG. In this role, J.P. Morgan Chase N.A. London Branch will act as an accepted commercial bank (Settlement Bank) in order to facilitate the settlement of clearing-related cash payments in multiple currencies.
The following currencies are planned for processing via J.P. Morgan Chase Bank N.A. London Branch:
Currency | Currency Code | Payment types |
Euro | EUR | Clearing, margin and product related payments |
British Pound | GBP | Clearing, margin and product related payments |
United States dollar | USD | Clearing, margin and product related payments |
Swiss franc | CHF | Clearing, margin and product related payments |
Japanese yen | JPY | Margin and product related payments |
Canadian dollar | CAD | Product related payments |
Norwegian krone | NOK | Product related payments |
Swedish krone | SEK | Product related payments |
Danish krone | DKK | Product related payments |
Polish zloty | PLN | Product related payments |
Czech koruna | CZK | Product related payments |
Hungarian forint | HUF | Product related payments |
Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions, as applicable.
Further information
Recipients: | All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors, all FCM Clearing Members and other affected contractual parties | |
Target groups: | Front Office/Trading, Middle + Back Office, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Web: | ||
Authorized by: | Jens Janka |
